Blogged

April 16, 2009

Colbert on the Payday Loan "Reform" Act: "They'll Still Feel Like a Debt Pineapple is Being Hammered Up Their Ass, but They Will Have the Comfort of Knowing that that Pineapple Meets the Strictest Federal Standards"

One of Colbert's best in a long time. He takes a run at the proposed Payday Loan Reform Act, which proposes to prevent 800% interest rates by capping them at 780%. A great deal for anyone who gets a weekly 2000% pay raise, as Colbert points out. "The Payday Loan Reform Act drags the payday loan industry out of the darkness and into the anemic firefly flicker of nominal oversight."